Petroleum Coke Market is Anticipated to Reach US$24.11 billion by the end of 2020

The world petroleum coke market is anticipated to touch a revenue valuation of US$24.11 bn by the end of 2020. On account of environmental concerns and some traits causing pollution, the employment of petroleum coke could be discouraged, thus negatively affecting the demand in the world petroleum coke market. However, the process of gasification of petroleum coke is expected to up profit margins and encourage clean power production.

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In terms of type of product, the worldwide petroleum coke market could be classified into calcined or green coke and fuel grade coke. The aluminum sector is researched to be a major consumer of calcined coke. It could account for a staggering 75.0% to 80.0% of the demand in the calcined coke market on a global platform. The remaining percentage of the demand for calcined coke is predicted to be secured by steel, paper, paint, and chemical sectors. Calcined coke in these sectors could be used for manufacturing titanium dioxide pigment. Moreover, calcined coke finds extensive application in fertilizer, glass, brick, and colorings markets.

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Fuel grade coke, on the other hand, is envisioned to be highly utilized in the power and cement kilns sectors. This type of petroleum coke could also draw a high demand because of its ability to blend with traditional coal-fired boilers.

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In addition to that, fuel grade coke is expected to be advantaged by the complete replacement of steam coal by technologically-enhanced boiler designs.

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